The Jobless Claims Metric Is A Complete Joke

Anyone who follows the jobless claims reports is either ignorant or just not very intelligent – FOD (Friend of Dave’s)

The joke’s on us. While perhaps the monthly non-farm payroll report – while nothing short of blatant fraud in its entirety – may contain some small “kernels” of statistical reality, the weekly jobless report is absurdity in its purified form. I take that back, the issuance of that report is indeed reflective of a Government showing complete contempt for the relative intelligence of its population.

I wrote an article last week in which I detail why the jobless claims report is completely devoid of any meaningful information about the relative health of the job market other than the fact that, yes, there are still some people getting terminated from jobs from which they are entitled to file for jobless benefits: Jobless Claims Are Irrelevant.

The fact that Government can issue economic reports do not even remotely represent the economic reality intended to be conveyed by the reports reflects a Government has morphed into a the type of propaganda-generating central American-style Banana Republics at which we used to laugh in the 1970’s.

With all the announced layoffs over the last several weeks, plus all of the private sector regional Fed economic surveys reflective of a workforce in decline, it would be logical for jobless claims to be spiking. In order to avoid reinventing the wheel, I’ve hypothecated this graph from Zerohedge in order to illustrate the point:

I take back an earlier statement in which I asserted that the jobless claims report contains no meaningful content. I was wrong. The report shows a Government that has decided to hypothecate a fairy tale and use that story in place of reporting the truth. It reflects the reality of a Government that will go to any lengths in an attempt to perpetuate the fraud and criminality underlying the giant systemic Ponzi scheme being used by the elitists to transfer as much wealth as possible from the U.S. citizenry and into their own pockets.

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6 thoughts on “The Jobless Claims Metric Is A Complete Joke”

Isn’t any economy based on forced tender laws and a fiat currency (i.e., all world economies today) a Ponzi scheme? So it’s not that ours is, too, but that it’s beginning to collapse in on itself, go supernova, as all such economies eventually do. The graft and bullshit and disparate wealth distribution are just symptoms of this collapse.

DAVE ,IT WILL NEVER CHANGE AS FAR AS THE U.S. SHEEP.THIS WILL BE GOING DOWN BY THE END OF THE YEAR. THE US ELITE WILL BE GOING TO THE S.D.R. AND THE DOLLAR WILL STILL EXIST AND IT WILL BE GOLD BACK. DO NOT SEE CHINA ALLOWED INTO THE BASKET OF SHIT PAPER.WHATCH CHINA VS USA.

“The powers of financial capitalism had another far reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements, arrived at in frequent private meetings and conferences. The apex of the system was the Bank for International Settlements in Basle, Switzerland, a private bank owned and controlled by the worlds’ central banks which were themselves private corporations. The growth of financial capitalism made possible a centralization of world economic control and use of this power for the direct benefit of financiers and the indirect injury of all other economic groups.”

Tragedy and Hope: A History of The World in Our Time (Macmillan Company, 1966,) Professor Carroll Quigley of Georgetown University, highly esteemed by his former student, William Jefferson Blythe Clinton.